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they want to raise revenue by reviewing the current tax deduke system. house speaker john boehner has urged the president to compromise. >> our members believe strongly that raising tax rates will hurt the economy. now we need a response from the white house. >> unless the two sides reach an agreement by the end of this year, the automatic tax increases and spending cuts will take effect in the new year. >>> time to get a check on the markets now. the nikkei here in tokyo rose above the key 9,500 level as concerns about the u.s. economy eased. the nikkei index right now trading at 9521, a gain of over .5% from wednesday's close. traders said positive remarks about a fiscal cliff deal by president obama are aiding share prices. i guess port-related issues are leading the gains as the weakening trend of the yen is continuing. so let's take a look at the currency markets. the dollar is higher against the yen. that's on better than expected nonmanufacturing data out of the u.s. 82.40-43. euro/yen, that's in the mid 107 yen levels this thursday morning. takin
they want to raise revenue by reviewing the current tax deduke system. house speaker john boehner has urged the president to compromise. >> our members believe strongly that raising tax rates will hurt the economy. now we need a response from the white house. >> unless the two sides reach an agreement by the end of this year, the automatic tax increases and spending cuts will take effect in the new year. >>> time to get a check on the markets now. the nikkei here in tokyo...
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Dec 1, 2012
12/12
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but he ruled out higher tax rates. most democrats have ruled out all of those cuts, arguing they would undermine the nation's most successful programs. the president asked for, but it appears republicans would be unlikely to agree to give the president the ability to raise the debt limit unless a super- majority in congress disapproves after the fact. that option was developed by senator mcconnell himself. >> members hate that vote, as you know, because they are voting to increase the debt, but that's why they should have it, because it's a reminder of what this fiscal policy is doing and it holds congress accountable for doing it. >> reporter: so the first week or real bargaining on the fiscal cliff ended with a loud chorus of "no's." and there are only a few more weeks left to get to yes on some of the toughest policy issues dividing democrats and republicans. darren gersh, "n.b.r.," washington. >> tom: many companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now
but he ruled out higher tax rates. most democrats have ruled out all of those cuts, arguing they would undermine the nation's most successful programs. the president asked for, but it appears republicans would be unlikely to agree to give the president the ability to raise the debt limit unless a super- majority in congress disapproves after the fact. that option was developed by senator mcconnell himself. >> members hate that vote, as you know, because they are voting to increase the...
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Dec 5, 2012
12/12
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we can get a tax rebate up to about 3,000 u.s. dollars. >> we'll buy on eco car because it saves energy and not so expensive and covered by the tax rebate program. >> reporter: japanese auto makers plan to boost production in thailand. the country is one of the most important manufacturing hubs. they're betting economic growth and prosperity will continue to rise aas the group moves towards creating an economy culminating in 2015. >> translator: southeast asia's auto industry should enjoy 7 to 8% growth, similar to china over the next four or five years. compared to other countries in the region, thailand is the leader in auto production and has the soundest supply chain. >> reporter: thailand's auto industry has on the goal of producing 3 million cars a year within the next five years even after the floods of 2011, the country remains in the driving seat of the fast-growing auto market. >>> a powerful typhoon struck the philippines. at least 37 people are dead. more than 50,000 have fled into shelters. typhoon is heading northwes
we can get a tax rebate up to about 3,000 u.s. dollars. >> we'll buy on eco car because it saves energy and not so expensive and covered by the tax rebate program. >> reporter: japanese auto makers plan to boost production in thailand. the country is one of the most important manufacturing hubs. they're betting economic growth and prosperity will continue to rise aas the group moves towards creating an economy culminating in 2015. >> translator: southeast asia's auto industry...
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Dec 4, 2012
12/12
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you can rest assured that they're going to be tax increases, tax-rate increases for the top 2%. you're probably going to see more in the form of health care entitlement cuts. >> ifill: you're thinking, however, that whatever compromise they come up with will be some distance from what you proposed more than a year ago? >> tualy, it wasore than a year ago. it was more than two years ago. times change. elections happen. there are consequences to those elections. yes, i think you'll see a different product come out. but i think the key is you're going to see a balanced approach with both revenue and spending cuts. you're going to see at least $4 trillion because that is the minimum amount you have to reduce the deficit in order to stabilize the debt and get it on a downward path as a percent of g.d.p. >> ifill: you said a moment ago that this is theater. these are both like opening bids that either side is goingo reject. how do we get past that? how do they get past that if, in fact, the catastrophe everyone is warning about is to be avoided. >> if they got to agreement the way was
you can rest assured that they're going to be tax increases, tax-rate increases for the top 2%. you're probably going to see more in the form of health care entitlement cuts. >> ifill: you're thinking, however, that whatever compromise they come up with will be some distance from what you proposed more than a year ago? >> tualy, it wasore than a year ago. it was more than two years ago. times change. elections happen. there are consequences to those elections. yes, i think you'll...
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Dec 7, 2012
12/12
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pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare. >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top officials. >> woodruff: we have a battleground dispatch from a coastal city facing rising sea levels and the next big storm. >> if sandy were to come close r directly into norfolk i think we'd all be in big trouble. >> brown: we assess the latest diplomatic moves to end syria's war, as secretary of state hillary clinton meets with russia's foreign minister. >> woodruff: and ray suarez has the story of a program that aims to put students at low-achieving schools on a path to high school graduation. >> we're here to make things better. we're here to tutor kids. we're here to make sure that they stay on track. we are here
pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare. >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top...
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sales tax. it is spurring growth and putting people to work there. wayne would it work here? >> it is a sad day to think that we have to do something the communist china is doing . it worked very well and they have expand today to other provinces in china and it is working very, very well. yes. >> national sales tax does that work here, johnathon? >> it would. it is it fair and treats everyonely and easy to understand and more importantly taxes consumption and not production. the only thing i like about communist china is the chicken but the corporate next tax must go and think of how much more wealth and jobs we would have if it add more to the profits every year. >> julian, what do you make of >> the reason a national sales tax is good it is hardero cheat on and the reason it is it bad. econy growing at 2.4 percent. it would not stimute the commempt i like the bus tax cutos the top two percent than the valuattedad tax. all of the economic data said if you let them expire you will have no impac
sales tax. it is spurring growth and putting people to work there. wayne would it work here? >> it is a sad day to think that we have to do something the communist china is doing . it worked very well and they have expand today to other provinces in china and it is working very, very well. yes. >> national sales tax does that work here, johnathon? >> it would. it is it fair and treats everyonely and easy to understand and more importantly taxes consumption and not production....
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that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at the end of the day co you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before thend of the year. we knew it was going to happen as of january 1, we would be able to say definitively let's capture capital gains and save ourselves money. order, it's definitely not necessary. for the moment, we are saying that we are preparing. we are examining every client accounts so that we are ready to make a move if needed. let's not pull the trigger to set. gerri: one of the things people are concerned about, dividends and dividend paying stocks. wifi on? by southern? what you me of that debate? that is obamacare and that is e law and it is not expiring. >> th
that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at the end of the day co you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before thend of...
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then be put into a longer term saving account for russia if you like now putin has also mentioned the tax is going to come into play for the gas and oil sector as well which is kind of spook them a little bit see saying these energy sector is all significantly under attack so they've got some added tax increases to look forward say well let me go through these these features that you mentioned like one by one so yeah she will be borrowing again then kerry to you hasn't done so the past couple of years exactly if we go back to twenty eleven they didn't have to dimitri at the time the coffers were full and it was full of oil money. at the time the. the finance minister alexei courage and who is no more any more he set up this cushion fund as you say it was a contingency plan for a rainy day and at the time people were saying well haitian is spent on infrastructure improving russia the future of it and well actually it seemed to work because he loved for the mistakes that were made in one nine hundred ninety eight when we had a catastrophic disaster in terms of the economy we had all opines
then be put into a longer term saving account for russia if you like now putin has also mentioned the tax is going to come into play for the gas and oil sector as well which is kind of spook them a little bit see saying these energy sector is all significantly under attack so they've got some added tax increases to look forward say well let me go through these these features that you mentioned like one by one so yeah she will be borrowing again then kerry to you hasn't done so the past couple...
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they also pay a high rate of tax but nowhere near as high as the u.k. we've got the netherlands pays around forty eight percent tax germany pays around forty percent average families that pay in tax now we spoke to a few londoners on the streets and i asked them about how they feel about how much tax they pay let's take a listen i'm not particularly looking for us personally each player such as it should be fair across the board people should pay proportionately. from it really. feels like it's going to the fact that some of. the communities it's just. good. business. so as you can see there are a lot of people just extremely frustrated that they aren't getting any of their local services back it's demoralizing figure and as the government had promised to recognise marriage to provide some of these tax breaks they haven't done that yet and in the run up to christmas with prices on the rise through prices fuel prices just the price of heating a family's home this is very very bad news and a lot of people feeling extremely frustrated about it. he's maybe
they also pay a high rate of tax but nowhere near as high as the u.k. we've got the netherlands pays around forty eight percent tax germany pays around forty percent average families that pay in tax now we spoke to a few londoners on the streets and i asked them about how they feel about how much tax they pay let's take a listen i'm not particularly looking for us personally each player such as it should be fair across the board people should pay proportionately. from it really. feels like it's...
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two ws and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too . this plan doesn't basically entitlement spending. we don't get our snding, with any ofthese three plans. even going over the cliff we don't get the spendin in order. i will giv you the last word. th we go on. >> the issue with the republicans they're losing is. they're losing the argument, the debate, they're losing everythi. what we need to do is, to respond to the question, what do we do now in three weeks? let's go aheadand give 98% of the american people a tax t. none of us are ignoring the viability and importance of looking at entitlement reform as it relates to savings getting rid of waste fraud and abuse and other aspects. i will not tolerate increase in eligibility or raising the age but what republicans are doing is, they are putting theissue taxes and theye not telling the american people that the enlightment reform and tax reform is ane orissues thatan be discussed in 2013 in deliberative manner liening to you constituents. that is the key.
two ws and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too . this plan doesn't basically entitlement spending. we don't get our snding, with any ofthese three plans. even going over the cliff we don't get the spendin in order. i will giv you the last word. th we go on. >> the issue with the republicans they're losing is. they're losing the argument, the debate, they're losing everythi. what we need to do is, to respond to the question, what...
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Dec 4, 2012
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we can get a tax rebate up to about 3,000 u.s. dollars. >> translator: we'll buy an ecocar because it saves energy, it's not so expensive, and covered by the government's tax rebate program. >> reporter: japanese automakers plan to boost production in thailand. the country is one of the most important manufacturing hubs. they are betting economic growth and prosperity will continue to rise across. asean as the prue group moves towards creating an economic community in 2015. >> translator: southeast asia's auto industry should enjoy 7% to 8% growth similar to china over the next four or five years. compared to other countries in the region, thailand is the leader in auto production and has the soundest supply chain. >> reporter: thailand's auto industry has a goal of producing 3 million cars a year within the next five years. even after the flux of 2011. the country remains in the driving seat of the fast-growing auto market. busaba sivasaboom, nhk world, bangkok. >> that wraps up our bulletin. i'm patchari raksawong in bangkok. >>
we can get a tax rebate up to about 3,000 u.s. dollars. >> translator: we'll buy an ecocar because it saves energy, it's not so expensive, and covered by the government's tax rebate program. >> reporter: japanese automakers plan to boost production in thailand. the country is one of the most important manufacturing hubs. they are betting economic growth and prosperity will continue to rise across. asean as the prue group moves towards creating an economic community in 2015. >>...
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a little the taxes they are talking bout. no one likes to pay more taxes, but the effect on the market, the things that are being proped woulde overstated. i don't think a downgrading by the credit agencies is factored into pple's thinking. so that part of it, if they do something that makes the credit agencies, all of them in unison downgrade as to something elow think about this, that is not a good thing. that disturbs the markets. lou: so and other smart people watched, the speaker off fumbled through his rhetoric to say how tough he is and how resolute the white hose will be in all of this. the reaction is in the markets, if it goes another couple of weeks. >> people are saying we are all idiots. people who don't have anything to do with washington and we have to live in places where we are the safest. the debt market or the equities market, particularly the equities market. china, germany, the u.s. they can survive these crazy politicians. lou: tell important. what do you think we can expect? >> far less significance tha
a little the taxes they are talking bout. no one likes to pay more taxes, but the effect on the market, the things that are being proped woulde overstated. i don't think a downgrading by the credit agencies is factored into pple's thinking. so that part of it, if they do something that makes the credit agencies, all of them in unison downgrade as to something elow think about this, that is not a good thing. that disturbs the markets. lou: so and other smart people watched, the speaker off...
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nothing else except for the co-counsel we tax the car towers who make a lot of money on this business but we won't tax the village folk who own but if you have does of coca bush's age that is what everyone wants to do in relation between coca and the guerrillas in other areas where they have different businesses who also larry are tags differently but the reality in colombia is such that every institution across the country is involved in drug trafficking so wherever we go collecting our tax now always local drug dealers and cartel members to be found and they will have to pay us a war acquires money just like a con needs an engine to run. earlier this year that it would no longer kidnap people but if you individuals are still held captive by us what are their prospects is their plan to have them released. logic of what i want we hold no captives. well it was some time ago there was an organization that used to claim that we're how did some three thousand people in captivity that was before last february when we announced we would stop taking captives due to economic reasons i mean th
nothing else except for the co-counsel we tax the car towers who make a lot of money on this business but we won't tax the village folk who own but if you have does of coca bush's age that is what everyone wants to do in relation between coca and the guerrillas in other areas where they have different businesses who also larry are tags differently but the reality in colombia is such that every institution across the country is involved in drug trafficking so wherever we go collecting our tax...
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Dec 3, 2012
12/12
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taxes. we reviewed the top 500 tax deadbeats and found professional, including doctors, lawyers and nurses hollywood celebrities including dionne warwick and topping the list with a $10 million tax bill is founder of san francisco-based cnet, tech pioneer halsey minor. we couldn't find him, but on main street in hayward. is there a reason you are not paying your personal income tax? we confronted another tax evader. you and your husband owe more than $500,000 state? >> no, we don't. >> reporter: that is what it says here. the franchise tax board says this couple living in this gated estate in clayton is way behind on their taxes. you are no. 2 29? >> stop. >> reporter: there is doctor deliano junior of walnut creek and he is not 1 on the list of corporate tax delinquents. we're just trying to ask him why he hasn't paid a $4.1 million tax bill? we were told that the doctor wouldn't see u-only patient. the state will continue to publicly shame continues and tax eraiders in the hopes getting th
taxes. we reviewed the top 500 tax deadbeats and found professional, including doctors, lawyers and nurses hollywood celebrities including dionne warwick and topping the list with a $10 million tax bill is founder of san francisco-based cnet, tech pioneer halsey minor. we couldn't find him, but on main street in hayward. is there a reason you are not paying your personal income tax? we confronted another tax evader. you and your husband owe more than $500,000 state? >> no, we don't....
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adding tax hikes on dividends and capital gains. the white house wants 50 billion in new spending next year alone in a long-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does othing, every family in america will see their income taxes automatically go up on january 1st. that is sort of like a lump of coal you get forchristmas. >> congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear that he was supporting tax cuts for the mile-class, thathe wanted the expiration of thetax cuts for the high end. >> very little progress among the inside player so ar, t
adding tax hikes on dividends and capital gains. the white house wants 50 billion in new spending next year alone in a long-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this...
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it turns out that the taxes, because of the bush tax cut, the federal taxes due on dividends are 15%. people think that is low. it turns out, that the company already paid tax on that money. whatever money we have, we pay tax on and that is already the shareholders money. we pay the corporate tax on that money which belongs to shareholders. but, okay, the tax used to be 36% got it used to be ordinary income under president george bush. we believe the tax in 2013 and beyond will go to 40% or more. instead of paying a 40% tax federally, they will only pay a 15% tax. liz: have you talked to the president, and if you have not, what would you say about this issue. i would say that he should know more about economics. after certain points, the government raises less money by increasing the tax rate. if the tax rate were 100%, liz, how much money would the government raise? 100% of zero because nobody would go to work if the government confiscated everything. at some point, if the taxes increases and it turns out most analysis, most economists agree that that rate is about 30%. up to 30%, th
it turns out that the taxes, because of the bush tax cut, the federal taxes due on dividends are 15%. people think that is low. it turns out, that the company already paid tax on that money. whatever money we have, we pay tax on and that is already the shareholders money. we pay the corporate tax on that money which belongs to shareholders. but, okay, the tax used to be 36% got it used to be ordinary income under president george bush. we believe the tax in 2013 and beyond will go to 40% or...
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Dec 3, 2012
12/12
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CNBC
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first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we have gotten the white house's response to the boehner counter proposal to the white house proposal last week. the white house doesn't like the proposal from bane kpp today. dan fifer saying the republican la letter does not meet the balance and sticks the middle class with the bill. clearly what we are seeing is a negotiation. the white house doesn't like what they have been presented and now the offers and counteroffers will continue to fly and will start to get a little more close to one another. neither one of these as they have been laid o
first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we...
SFGTV2: San Francisco Government Television
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Dec 5, 2012
12/12
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we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here from oakland cut -- oakland, i saw those cars in the ordinary lanes. one person per car. you have this one person with all this steel and plastic and oil. it is ridiculous. we're figuring out ways to do that. whether it is high speed rail or electric cars. the first will be rolling off the factory in treatments in the next few months -- in three months and in the next few months. yes, the innovative companies are small. the electric cars -- the tanks are small but so is fairchild or in tal or hewlett-packard -- intel or hewlett-packard or steve jobs. the seats we plan
we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here...
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Dec 1, 2012
12/12
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so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the reason people keep their money there. >> i had a conversation with someone from the financial industry trying to make the defense about things like carried interest which isn't investment income but gets taxed, there's a lot of effort put in with cancer in return, and i couldn't help, you know what else involves a lot of munster in return? renting books. i don't get the tax break and you get the tax break. >> just to clarify the question of very interesting, when a private equity or hedge fund earns money from their customers they earn a fee, that is their income. they are allowed to defer that and
so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the...
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Nov 30, 2012
11/12
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FBC
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it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestine, my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense, medicare, medicaid, those are out of general revenues, they are in a defendant category. social security, does nida, just need adjustments, it should not be part of solves will deficit. neil: i think what is intrinsic. is what you are not saying. that we're missing an opportunity to address the overall rate of money coming in and money going out. if you want to leave social security alone, and just look at all of other entitlements and big spending and hear, they say focus it has to be on taxes, i'm not here is a they don't raise taxes on the rich. the elects do have consequences that is on
it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestine, my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense, medicare, medicaid, those are out of general...
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Dec 2, 2012
12/12
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and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president has done, going to congress and said, going out and encouraging people to tweet and post on facebook my 2k, meaning the $2,000 they would get in the extended tax breaks for the middle class. but he is also meeting privately with ceos. he has a bad relationship with wall street and with corporate america generally. he has presented much of this plan. what's the feedback he's getting? >> there will be a big recession if you don't get behind him. i'm finding many republican ceos -- by the way, most ceos are republican. they are on board. they are not on board with
and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president...
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they paid only one point two million pounds worth of tax in two thousand and ten when in fact despite when in fact they made profits of around one hundred eighty one million which equates to a tax bill of around fifty one million pounds according to estimation. laura smith in london thank you very much for that update we'll see what the final sentence will be then. so i had this ally india is already to flex its muscles in the south china sea as a country for this team staking a claim for a huge oil and gas bill they're going to come from i think eighteen. plus the us senator received some tit for tat medicine from moscow in response to fit into slap a travel ban and russian thank you for breaching human rights that's another international story to show. a forty nine year old southern california man was thrown in prison and charged with possessing materials to make explosive device all because of his rather unusual wristwatch despite the bomb squad saying that his watch was not a weapon here rated custody for twenty four hours and was charged with the crime anyways a spokesman for the
they paid only one point two million pounds worth of tax in two thousand and ten when in fact despite when in fact they made profits of around one hundred eighty one million which equates to a tax bill of around fifty one million pounds according to estimation. laura smith in london thank you very much for that update we'll see what the final sentence will be then. so i had this ally india is already to flex its muscles in the south china sea as a country for this team staking a claim for a...
SFGTV: San Francisco Government Television
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Nov 29, 2012
11/12
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if the tax industry goes away, who serves the disabled community? do you think uber will do that? i don't think so. how about people that don't have a smart phone? you are not allowed us to compete. the cab companies are not allowing us to compete. uber is hiring drivers with the app. people are independent contractors but it should be able to use any app they want; we need a universal app engine need help us do this, help us get the tools to compete with these people. if you read the article yesterday, the comments, the public hates taxis, they hate the tv screens in back, they hate the mta, the puc, drivers refuse to take them to the sunset, refuse to take credit cards. where is the enforcement? why are you allowing companies to block our dispatch systems. we need the -- this is model because that's what they want. we have to have taxis, insurance, regulation. by the way, willie brown -- how many endorsements from the labor council did you get? shame on you. [indiscernible] >> secretary boomer: last person who turned in the speaker card. >> i'm speaking on behalf of my son. he w
if the tax industry goes away, who serves the disabled community? do you think uber will do that? i don't think so. how about people that don't have a smart phone? you are not allowed us to compete. the cab companies are not allowing us to compete. uber is hiring drivers with the app. people are independent contractors but it should be able to use any app they want; we need a universal app engine need help us do this, help us get the tools to compete with these people. if you read the article...
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Dec 4, 2012
12/12
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tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated to 1.4%. incomes are flat and hurricane sandy shut down the northeast for days and in some cases for weeks. even though we have had positive numbers from companies like home dep depot, the group would be flat lining. yet that hasn't been happening. it is shown by the rth, the market vectovector's retail num. it has been showing very well. that is why tonight we are going off the charts with the help of ed ponzi. my colleague at realmoney.com, we have to learn what the charts are seeing. if you remember, one of the reasons why i went back to ed. he is the guy who nailed it and
tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated...
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Nov 29, 2012
11/12
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will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions and millions of americans are lining up to take a chance on a giant dream. a powerball ticket that could be worth more than half a billion dollars. the biggest in its history. the drawing is tonight. and some people have been willing to wait 2 1/2 hours in the long lines in arizona, while coast to coast, tickets are flying across the counters, 130,000 sold every minute. and that adds up to 7 million tickets sold every hour. so, we asked abc's steve osunsami to make his way into the vault where the lottery balls are kept under lock and key and tell us about all the americans hoping tonight is their night. >> rep
will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions...
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Dec 1, 2012
12/12
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and so very often that will mean they'll resist certain kinds of regulations, resist certain kinds of taxes, and resist certain kinds of policies that might be in the broader public interest and, therefore, there's a tension between the narrow self-interest of the few and the broader general interests of everybody else. >> host: in your book you talk about evolution quite a bit, and in fact if i'm misquoting you, let me know. but national government are knee -door in neathrandel. >> at some point, human beings and dinosaurs and modern -- national governments are a form of organization that are inconsistent with the global ear remark whereas corporations helped shape the global era, are designed to operate globally and across borders and thrive in a place where the very nature of countries having borders restricts them from projecting their influence. >> host: do you see that changing? >> guest: well, it will change at a point in history where people realize they need international institutions that are strong enough to regulate global climate or to regulate global financial markets or regul
and so very often that will mean they'll resist certain kinds of regulations, resist certain kinds of taxes, and resist certain kinds of policies that might be in the broader public interest and, therefore, there's a tension between the narrow self-interest of the few and the broader general interests of everybody else. >> host: in your book you talk about evolution quite a bit, and in fact if i'm misquoting you, let me know. but national government are knee -door in neathrandel. >>...
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tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near seven week high against the green back after greece announced its debt buy back terms. euro rose to a $1131. that's high historically. action in the metals. silver, platinum, all sinking more than 1%. silver was today's biggest loser dropping nearly p 3% to settle at $32.81 an ounce. david: markets hopping, but the next trader says investor participation is shifting. in chicago, larry, the key question here is what happens when the market gets off its hind legs and moves? move up or down? >> it all depen
tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near...
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Dec 7, 2012
12/12
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you, don't tax me coming and you will find that out. estimate on the second piece and then on the second piece. the first piece, the danger with putting the goals in the savings and cuttings and taxes in its regular order i'm afraid the regular order won't produce the results. to build another fiscal what on pressure which puts us right back where we are or have a default mechanism which the policy set aside that was sides don't like about media is a lot of bad alternatives for both. it's important for people to understand in the current lull this is a fact. if the converse packed its bags right now and went away at the end of the tenure period the deficit to gdp ratio would be under 1%. succumbing you would solve the deficit problem. estimate under 1%? the percentage of your debt as the deficit to the gdp. the deficit to gdp. a deficit to gdp. now, we don't want to get there that we. the same way we don't want to go over the fiscal cliff. in other words, the fiscal cliff is a big austerity. we get $7 trillion in the deficit reduction o
you, don't tax me coming and you will find that out. estimate on the second piece and then on the second piece. the first piece, the danger with putting the goals in the savings and cuttings and taxes in its regular order i'm afraid the regular order won't produce the results. to build another fiscal what on pressure which puts us right back where we are or have a default mechanism which the policy set aside that was sides don't like about media is a lot of bad alternatives for both. it's...
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Nov 30, 2012
11/12
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tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because the well identity disproportionately benefit from those type of low rates. >> jennifer: for sure. and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in
tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because...
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Dec 4, 2012
12/12
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oracle is among the latest corporations trying to beat the clock on next year's expected tax increase. oracle's board has approved accelerated dividend payments for the second, third and 4th quarters of next year. nhl owners and players plan to meet today in a renewed effort to move the puck on labor talks. let's see what's going on with the market today with matt shapiro, president of mws capital. good morning to you. > > good morning angie. > this is certainly one moody market. it seems to move on every word that comes out of washington. > > absolutely. actually, i am surprised, given the stalemate that we had this weekend and the gop yesterday having a counter offer - they are miles apart, but the market really held in there, and i think, at this point, the market is just basically pricing in that nothing really good is going to happen in washington, at least for now. > what about manufacturing matt? the numbers came in solid for china, not so good for the u.s. there was a bit of a slip. > > i think some of that is the concern. but at least the silver lining is positive for china.
oracle is among the latest corporations trying to beat the clock on next year's expected tax increase. oracle's board has approved accelerated dividend payments for the second, third and 4th quarters of next year. nhl owners and players plan to meet today in a renewed effort to move the puck on labor talks. let's see what's going on with the market today with matt shapiro, president of mws capital. good morning to you. > > good morning angie. > this is certainly one moody market. it...
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Dec 5, 2012
12/12
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tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in trouble. once the holidays ends, things can get a whole lot worse. not just the fiscal cliff. two weeks ago aggregate retail sales that showed a 3% decline. last friday's gdp indicated that growth and personal consumption decelerated to 1.4%. these are not encouraging numbers. incomes are flat and hurricane sandy shut down the northeast wealthiest parts of the country, for days and in some cases for weeks. even though we have had positive numbers from companies like home depot and lowes, you think it would be from the proverbial -- >> the house of fame. >> or at least the group flat lining. get that? isn't happenin
tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in...
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there's a tax payer it comes out of the tax and bury the actual purging we're already healthy and in shape to go out and. private companies hardworking and reliable make sure want to work every day well. terribly work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage of around six dollars a unit cory's a government owned corporation that uses prison labor to produce all kinds of goods mainly for other government agencies one hundred seventy five different types of products and services you see the variety listed on their website they to partner up with private firms now last year unicorn's revenue nine hundred million dollars the spars private prisons are concerned two of the country's biggest prison corporations made three point three billion dollars last year alone private prisons are treated in that york stock exchange they are for profit companies and the savings that they reap from using inmate labor. go to their bottom line it's money they otherwise d
there's a tax payer it comes out of the tax and bury the actual purging we're already healthy and in shape to go out and. private companies hardworking and reliable make sure want to work every day well. terribly work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage of around six dollars a unit cory's a government owned corporation that uses prison labor to produce...
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Dec 6, 2012
12/12
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when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's a big difference between 2012 and 1986. only 17% of our economy was related to trade in '86. last year in
when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then...
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Dec 4, 2012
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tax reform. it would be in the tax reform process that there would generate -- and they would generate $800 million -- $800 billion in revenue. and they say the $800 billion could be raised without raising tax rates, and this is something that is in dispute with the white house. the white house said there would be no deal unless republicans agreed to increase tax rates on the wall the next year. >> what do the republicans say about the debt limit, sequestration, automatic spending cuts, and changes to entitlement programs? >> that was not addressed. the white house offered to make permanent the changes. republicans are not proposing to raise the debt limit at all. but if you ask their aides, they told us that the speaker would be open to increasing the debt limit, but he is sticking by his role that any increase must be accompanied by cuts and/or reforms. it could be on the table. entitlements, they are not laying out this was a big changes to medicare and medicaid. what they are saying is they w
tax reform. it would be in the tax reform process that there would generate -- and they would generate $800 million -- $800 billion in revenue. and they say the $800 billion could be raised without raising tax rates, and this is something that is in dispute with the white house. the white house said there would be no deal unless republicans agreed to increase tax rates on the wall the next year. >> what do the republicans say about the debt limit, sequestration, automatic spending cuts,...
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Dec 5, 2012
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let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loopholes and deductions both democrats and republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that points. >> in the meantime, now the gop is fighting with itself. speaker boehner is facing growing backlash from the more conservative wing of his party. at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday. >> we've wasted enormous amount of time here sparring
let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loopholes and deductions both democrats and republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that points. >> in the meantime, now the gop is fighting with itself. speaker boehner is facing growing backlash from the more conservative wing of...
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Dec 7, 2012
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businesses and investors are unsure about what their tax burdens will be like this year. the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the president visited a family in virginia to talk about tax hikes on the wealthy there were few talks on if is clal cliff talks. >> i am not going to sign any package that somehow prevents the top rates from going up for folks at the top two percent. >> this isn't about getting a handle on debt for him it's about spending more than he already has. >> as far as the unp employment numbers are concerned today there is little doubt that super storm sandy had an impact on those. the expectation is that it dissipated a great degree. back to you guys. >>> doug luzader in washington, thank you. >> it is ti
businesses and investors are unsure about what their tax burdens will be like this year. the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the...
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when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if the republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even this fiscal cliff debate begin to scratch the surface of the crisis all former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the subject of his latest book that many a politician may benefit from actually reading. from a long time in politics you know i don't do it anymore but boys mark thirty do not read history book. and the as these the is reportedly investigating going to be providing twelve billion dollars in derivatives trading losses in two thousand and eight yeah yeah there's a list of alleged bad bank behavior how. it is good capitalism though being driven out by bad capitalism all will break it down and word of the day plus alan greenspan says a painless solution to the u.s. debt is a fantasy plan finall
when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if the republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even this fiscal cliff debate begin to scratch the surface of the crisis all former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy...
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Nov 30, 2012
11/12
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we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work with the other side and how you can work with the other side. to make demands that are this far off of where we were starting from, seems to knot be really trying to move forward on this so it does lead one to wonder what he is trying to do. we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less wil
we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work...
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the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill dow
the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal...
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Dec 3, 2012
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tax revenue? on that the president responded -- high-end tax cuts do least for economic growth and cost almost $1 trillion. extending middle class cuts boosts consumer demand and growth. meantime the white house photographer tweeted a picture of the president answering tweets. speaker of the house john boehner also got into the conversation saying, mr. president, the budget will never balance without economic growth. how does raising tax rates on 1 million small businesses create jobs and grow the economy? let's see if the president responds to that one. he still has it. back over to you. >> that feels a little bit like a side show. >> tax cuts on one group help but tax cuts over here won't help and $80 billion a year will suddenly save medicare. >>> america doubling down on secret agents. u.s. sending out nearly 2,000 new spies. next we'll tell you their prime targets -- hint -- and the price tag for you, the taxpayer, will be paid for by tax hikes on the rich. >>> the cnbc real-time exchange mar
tax revenue? on that the president responded -- high-end tax cuts do least for economic growth and cost almost $1 trillion. extending middle class cuts boosts consumer demand and growth. meantime the white house photographer tweeted a picture of the president answering tweets. speaker of the house john boehner also got into the conversation saying, mr. president, the budget will never balance without economic growth. how does raising tax rates on 1 million small businesses create jobs and grow...
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Dec 7, 2012
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the individual tax credit and they also pay the taxes themselves. like most working americans that have a magical withholding they see the tax dollars. small-business people write that check and they see every last dime of it. the tax collectors for the federal government collect all of those from employees and send that in as well. they are the only people that really see, touch, feel, implement virtually every aspect of the tax code and that's one of the reason it's very high in their mind and agenda. >> one thing about the structurally unemployed is that there may be more hope for them this time. we've had this before. we had it especially in the 1970's. and what happened then was not good. people lost 30 to 40% of their income when we looked at them five years later they lost most if not all of their benefits, and that's pretty much where they stayed. or they left the labour market but that was also smaller numbers for older people. this time there is some hope that depth of the recession in manufacturing in a sense and in construction because o
the individual tax credit and they also pay the taxes themselves. like most working americans that have a magical withholding they see the tax dollars. small-business people write that check and they see every last dime of it. the tax collectors for the federal government collect all of those from employees and send that in as well. they are the only people that really see, touch, feel, implement virtually every aspect of the tax code and that's one of the reason it's very high in their mind...
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Dec 1, 2012
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tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on some important decisions that will have a real impact on our businesses - and on families like yours. the most pressing decision has to do with your taxes. see, at the end of the year, middle-class tax cuts are set to expire. and there are two things that can happen. first, if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle class family of four will see their income taxes rise by $2,200. we can't let that happen. our families can't afford it, and neither can our economy. the second opt
tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on...
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a good plan would be less taxes going up than more taxes going up. at this point, even a bad plan might be better than no plan. >> austin, it's clear from this jobs report the economy is stuck in second gear. what's it going to take to get to a higher gear right now, do you think? >> i think we got to get the growth rate up in the economy. certainly europe's not any help. what's happening in china and japan is not any help. then you add on top of it what's coming out of washington. i don't think you should get your hopes up about figuring it out before the end of this year. i think there's a pretty deept chance we go over the cliff and then try to sort it out in the beginning of the year. >> lovely. >> joe, when did 146,000 jobs become good? have we become so pessimistic -- have our expectations come so low we're cheering 146,000 when we should be well over 200? >> plus the downward revisions for the previous two months. >> although, those revisions were almost all in government. mandy makes a good point. 150,000 a month, which has been the average o
a good plan would be less taxes going up than more taxes going up. at this point, even a bad plan might be better than no plan. >> austin, it's clear from this jobs report the economy is stuck in second gear. what's it going to take to get to a higher gear right now, do you think? >> i think we got to get the growth rate up in the economy. certainly europe's not any help. what's happening in china and japan is not any help. then you add on top of it what's coming out of washington....
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Dec 2, 2012
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and...
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Dec 5, 2012
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i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all, credit in commercial real estate is phenomenal. cap rates are really low. so the fact that rates are as low as they are has allowed commercial real estate not to fall into the abyss. if commercial real estate had to refi at high rates, we would have had another problem. the other problem is the fact margins are getting squeezed at these banks. credit quality is better. >> that's where the money comes from. >> yeah, fees. by the way, you can eat these loan loss reserves. citi still has close to $10 billion in reserves. they've not used them. >> that's interesting. >> these
i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all,...
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Dec 7, 2012
12/12
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i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock rallied, took a little bit off, and i still believe on a tact tactical basis that's the right move, at least for me. longer-term time frame it is generational. it looks most like a bond. it's a bond-friendly type of asset. that's why i want to own it. now, john and pete are talking about what potentially could turn it. you have to look forward into the earnings season and understand the potential for the number of iphones to be sold to hit 50 million. now, the reason that it was down 9 of 11 weeks, why did that begin? it began on the conversation of iphone five constraints. you wanted to order an
i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock...
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Dec 5, 2012
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. >> is that because of the tax -- not the tax, the rate cut. >> well, right. they did have the rate cut. the day they have the rate cut the aussie dollar rose. you would think there would be some momentum in that. there really wasn't any momentum. that concerned me a bit. >> we were talking about apple. we talked about it last night. see what we had to do on the set last night. >> fundamentals, revenues slowing. earnings growth is slowing. potentially margins have been peaking. >> that is something that if somebody put that chart in front of you and didn't tell you what it was, you would not be buying it. you'd say, that rally is something to be sold. >> i will say that apple is much more than a chart, apple is an ecosystem. apple is something that people love in terms of its products and so, therefore, why can't it transcend just being a chart with a technical breakdown? >> the emotion, it's amazing the emotion that this stock brings out in folks. we could say something negative about cat tractor. we'll talk about freeport mak and nobody will bat an eye. if y
. >> is that because of the tax -- not the tax, the rate cut. >> well, right. they did have the rate cut. the day they have the rate cut the aussie dollar rose. you would think there would be some momentum in that. there really wasn't any momentum. that concerned me a bit. >> we were talking about apple. we talked about it last night. see what we had to do on the set last night. >> fundamentals, revenues slowing. earnings growth is slowing. potentially margins have been...
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Dec 7, 2012
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as corporations offer dividends now to avoid potential taxes next year, larry ellison from oracle will get $198 million from a special dividend. should investors buy or sell oracle? > > you see a lot of people chasing into these special dividend stocks. you see costco, dillard's, some of the casino stocks, people chasing in to try to get that special dividend. i don't really think it's a play. i am not trading it. > > i like this stock, but i think it is a bit ridiculous for him to save $50 million when he is worth $41 billion- > > top 10 in the world, i think. > > $41 billion! that is a little bit ridiculous. but, the stock has been trading in a range between $30 and $33 in july, looking like it wants to break out to these recent highs at $36. so a $29 call for july of next year- > > but you're not going to get the dividend. > > -is going to cost you- > > but you're not going to get the special dividend. > > -$4. the dividend has nothing to do with it. i like the stock, and i like the fact that we have been trading sideways for the last six months. > round number two: price power. cof
as corporations offer dividends now to avoid potential taxes next year, larry ellison from oracle will get $198 million from a special dividend. should investors buy or sell oracle? > > you see a lot of people chasing into these special dividend stocks. you see costco, dillard's, some of the casino stocks, people chasing in to try to get that special dividend. i don't really think it's a play. i am not trading it. > > i like this stock, but i think it is a bit ridiculous for him to...
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Nov 29, 2012
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so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter whether it's rich people, middle class or poor people. it's money taken out of the productive sector, the private sector, and given to the nonproductive sector, the government. >> finally, we started the conversation talking about the pledge. when senator graham does, though, indicate his commitment is softening, do you have words with him later on? does he get scolded behind the scenes? >> i don't do any scolding. it's not my job to tell other senators or congressman how to vote or what to think. i try to communicate what i think is the message of our party. the
so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter...
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Dec 5, 2012
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a former prosecutor weighs in next. >> could your tax dollars has tax companies expanding. there's one problem. it's in china. >> welcome back. it is 20 minutes after the top of the hour. solar companies are expanding in china. they made 807 million in tax payer dollars. it is supplying two mega cawatt of panels in person china. sun power received nearly $540 million. 15 million in a chinese mproduc. kept a log of your private text messages. it could happen if police want their way. they passed a law requiring all carriers to keep your conversation for at least two years. patti ann? >> heather, a virginia auto zone is under fire after firing an employee who saved the store manager's life. a serial robber held a manager at gun point. he ran to his car and grabbed his legal gun ran back in and confronted the suspect. the would be robber fled. instead of being hailed as a hero he was fired for violating auto zone policy. >> they fired me because i re-entered the store with my personal weapon. they have a zero tolerance policy against employees having weapons in the store. >> s
a former prosecutor weighs in next. >> could your tax dollars has tax companies expanding. there's one problem. it's in china. >> welcome back. it is 20 minutes after the top of the hour. solar companies are expanding in china. they made 807 million in tax payer dollars. it is supplying two mega cawatt of panels in person china. sun power received nearly $540 million. 15 million in a chinese mproduc. kept a log of your private text messages. it could happen if police want their way....
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Dec 7, 2012
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can the state price legal taxed marijuana to be competitive with tax-free illegal pot on the street? as people celebrate in seattle, even though smoking anything in public is still against the law there, the market will have to figure out if the cost of complying with regulation and taxes in a legal pot world is more or less than the security cost criminals factor into their pricing for running an illegal enterprise. washington state says it'll take a year to set up its pol pot bureaucracy. it estimates tax revenues from marijuana will grow to $560,000 in 2013 to almost ten times that amount in 2015. it's even analyzed pricing, quote, medical marijuana dispensary prices on average range between $10 and $15 per gram with some proceed yum products exceeding $15 per gram. producer price is $3 per gram. the processer price is $6 per gram. no price elasticity is assumed. that may be a bad assumption. in colorado, the governor has yet to sign the pot law voters passed there. democratic congressman told us before the election they have to figure out what this means in terms of whether the m
can the state price legal taxed marijuana to be competitive with tax-free illegal pot on the street? as people celebrate in seattle, even though smoking anything in public is still against the law there, the market will have to figure out if the cost of complying with regulation and taxes in a legal pot world is more or less than the security cost criminals factor into their pricing for running an illegal enterprise. washington state says it'll take a year to set up its pol pot bureaucracy. it...
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Dec 5, 2012
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for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between 200 north that is hitting the 35% rate and the end comes are lower than the levels at which you would hit the 35% rate. there is a bazaar rate structure. >>host: why is it called a patch? >>guest: one time, year by year, patch, of the broad expansion. you could say why do they call it a cliff? [laughter] it is discussed in a terms of apache and it is a year by year increase. of the patches nothing but an increase of the exemption to prevent tens of millions of people to be forced to fallout their return. what makes this critical in the discussion is weird talking about the package for 2012 i'd like the res
for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between...
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you tax. you still spend. maybe it is time to take the medicine congressman and go over the fiscal cliff and fix the problem. >>guest: there is no fiscal cliff. there is a fiscal slope. the earth doesn't stop spinning, the sun will come up, the moon will come up and we will have to do things in john. taxes will go up and the democratic party and hopefully some responsible republicans will vote to make certain that we remove this tax cut that would take place. >>eric: no talk about responsible democrats to stop spending so were, or cut back the spending, not just cutting back the increase rate in spending but item spending cuts. >>guest: the rate of increase doesn't have anything to do with the spain people are suffering whether they are middle class or poor. we were talking about the so-called fiscal cliff, if that happens, automatically taxes are going to go up for everyone. maybe, then, someone would ask, who was it that said we shouldn't just pass the tax cuts to make certain that the working poor and the m
you tax. you still spend. maybe it is time to take the medicine congressman and go over the fiscal cliff and fix the problem. >>guest: there is no fiscal cliff. there is a fiscal slope. the earth doesn't stop spinning, the sun will come up, the moon will come up and we will have to do things in john. taxes will go up and the democratic party and hopefully some responsible republicans will vote to make certain that we remove this tax cut that would take place. >>eric: no talk about...
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Dec 1, 2012
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we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington, he's an attorney, who said, listen -- >> a lawyer? >> a lawyer but speaks to a lot of folks that are wall street type who says the market could take it for a couple of weeks. >> the cake is baked and they think the intelligence of politicians is up to this challenge. >> but wall street doesn't really have a lot of faith in this process to be able to get done. they have priced in just a little bit that this could happen for a while. maybe not for months, but you wouldn't see the market necessarily crash like the next day. you'd have time. i think if they came back on january
we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington,...
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Dec 6, 2012
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tax reform. each should be made permanent or fazed out based on that review, but realistically, the congress will not make those decisions before the end of this year. tax reform will take the better part of a year to accomplish or perhaps even longer. we will need to pass an extenders bill before then, and we have one before us today that is worthy of being passed. a third reason we should pass the tax extenders package now and not wait until the 11th hour is that waiting could force the i.r.s. to delay the tax filing season by ten weeks or more for millions of americans. in fact, we are at the 11th hour. i should amend my comments to make that point very clear. this need for the i.r.s. to delay the tax filing season is because the bill extends many provisions that expired at the end of 2011. they need to be extended for 2012 before people file their tax returns beginning in january of 2013. after congress acts, if it acts, the i.r.s. needs weeks to finalize tax forms and instruction books and t
tax reform. each should be made permanent or fazed out based on that review, but realistically, the congress will not make those decisions before the end of this year. tax reform will take the better part of a year to accomplish or perhaps even longer. we will need to pass an extenders bill before then, and we have one before us today that is worthy of being passed. a third reason we should pass the tax extenders package now and not wait until the 11th hour is that waiting could force the...
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Dec 6, 2012
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the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big issues when they're not. the fact that the rate would go from 35 to 39.6, it used to be in the 90s and 70s and 60s, and capital gains will be taxed at below the rate of ordinary income. we're dealing with the most minimal of shifts and changes yet we're being sucked into the notion that this is dramatic. it's not. >> you divided the republicans in three separate camps. i would say that the difference between the theological theocrats and the tee tea party is minimal. to a certain extent the policies that plays out with the theocrats is economics. four republicans have become identity politics. they
the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big...
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Dec 6, 2012
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why double tax capital? anyway, thank you, danielle hughes, we appreciate it. >>> there is a major stir tonight over a cartoon narrated by actor ed asner. check it out. >> over time, rich people decided they weren't rich enough, so they came up with ways to get richer. the first way was to tax cuts. they said why should i care about other nonrich people? >> all right, this here is just an attack on free enterprise. shame on mr. asner, who's a good actor. it's an attack on success. it's an attack on capital itch. it's also an attack on good taste, although we didn't show the most vulgar part. where does a successful actor like this get off saying this kind of thing? what does he know about capitalism anyway as he makes his bucks, and by the way, this entire cartoon was sponsored by the teachers union. what a shocking surprise there. they, too, higher taxes on the rich, knock down free market capitalism, go up against free enterprise. you know, when is this left wing stuff going to end? i guess the answer is n
why double tax capital? anyway, thank you, danielle hughes, we appreciate it. >>> there is a major stir tonight over a cartoon narrated by actor ed asner. check it out. >> over time, rich people decided they weren't rich enough, so they came up with ways to get richer. the first way was to tax cuts. they said why should i care about other nonrich people? >> all right, this here is just an attack on free enterprise. shame on mr. asner, who's a good actor. it's an attack on...
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i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we both hope that that does not happen, and i think what he said is correct. the republicans did put forward a plan. it's a reasonable plan, but, look, i got news for you. this is a negotiation. they are not going to get everything they want, the democrats not everything they want. just having a plan on the table and criticizing the other side and walking away doesn't help anybody. dennis: it doesn't. how much of what we watch are just postturing posturing and knowing secretly you'll reach a settlement? >> we understand how important it is tha
i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we...
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Dec 5, 2012
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it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over the cliff. >> i don't think the grown-ups believe they have to do the job by january 1st. i believe they believe the grown-ups have to do the job by january 30th or february 15th. >> they're going to believe the politicians can get the job done when they failed to get it done by january 1st. they're then going to believe -- >> i hear what steve is saying there. i'm standing in your camp, which is a rare spot for me to be in, standing in chris's camp here, but i think you're right. i think the markets have not baked this into their equation. >> dysfunction and childishness. >> dysf
it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over the cliff....
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Dec 1, 2012
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. >> with 32 days to go, will you be paying higher taxes? my political all-stars weigh in on battleground america. >>> and against all odds, after sandusky, penn state's incredible comeback. my exclusive interview with the coach of the year. >>> and a reunion with a dear old friend whose bark is as bad as her bite. sharon osbourne. her incredible year of highs and lows and how she's rebuilding her life after facing a terrible health prognosis. >> i couldn't see myself going through chemoagain. >> this is "piers morgan tonight." >>> good evening. who ever thinks the american dream is dead or dying should meet mark and cindy hill, a missouri couple who live a very ordinary life. at least that's what they were doing until wednesday and a little thing called power ball came along. sure, the odds were 1 in 175 million, but like everybody else in america, pretty much everyone else, they bought a ticket. wouldn't you know it, they won. sharing the jackpot with another lucky winner. today, the hills are holding a check in their hands for a cool $293
. >> with 32 days to go, will you be paying higher taxes? my political all-stars weigh in on battleground america. >>> and against all odds, after sandusky, penn state's incredible comeback. my exclusive interview with the coach of the year. >>> and a reunion with a dear old friend whose bark is as bad as her bite. sharon osbourne. her incredible year of highs and lows and how she's rebuilding her life after facing a terrible health prognosis. >> i couldn't see...
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Nov 29, 2012
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KGO
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well, only about half a billion dollars, before taxes. yes, the powerball prize was a record setter. as the jackpot swelled, the ticket-buying frenzy topped a rate of 130,000 a minute. after an astounding 16 rollovers, the $580 million question tonight was, would anyone actually win this time? on the dreamer beat, once again tonight, here's abc's ryan owens. >> reporter: this had been a record-breaking jackpot night. >> america's favorite game coming to you right now -- >> reporter: after all of the hype, the days of breathless anticipation, it comes down to this. >> $580 million jackpot for you. >> reporter: in a television studio in tallahassee, florida, machines spit out six numbers. numbers that are oh so close, but not quite the ones printed on your ticket. tonight it turns out they did match for at least two people. abc news has confirmed two winning tickets were sold. one in arizona. one in missouri. while the reality that almost all of us have lost, yet again, sets in -- let's go back to this morning when we were all about to beco
well, only about half a billion dollars, before taxes. yes, the powerball prize was a record setter. as the jackpot swelled, the ticket-buying frenzy topped a rate of 130,000 a minute. after an astounding 16 rollovers, the $580 million question tonight was, would anyone actually win this time? on the dreamer beat, once again tonight, here's abc's ryan owens. >> reporter: this had been a record-breaking jackpot night. >> america's favorite game coming to you right now -- >>...
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Dec 4, 2012
12/12
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is the white house going to accept anything but tax rates going up? >> well, they've never completely closed the door on that. >> it's like maybe just a crack, and i mean it's a small crack. >> yeah, and it's a very small crack and it might even be closing. they are very much about the high higher rates. the thing that i think the white house is having legitimate problems with in this new offer from john boehner is the lack of specificity. tony and i argued this a lot. he makes a great point. do we have to argue about rates versus base? is we can talk about base. and at this point republicans have done the same thing mitt romney was doing. $800 billion in new revenues from unspecified chose urs. the time for that is past. i'm glad they're coming with a counteroffer. they have to put specifics on the table. >> tony, under any circumstances, as you sit here right now, are republicans going to agree to let tax rates increa increase? >> look, i find that almost impossible for republicans to do, at least before december 31. i think everyone understands tha
is the white house going to accept anything but tax rates going up? >> well, they've never completely closed the door on that. >> it's like maybe just a crack, and i mean it's a small crack. >> yeah, and it's a very small crack and it might even be closing. they are very much about the high higher rates. the thing that i think the white house is having legitimate problems with in this new offer from john boehner is the lack of specificity. tony and i argued this a lot. he...
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Nov 30, 2012
11/12
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the president has been clear and we support him on holding firm to the 250 tax cuts, expiration of tax cuts for people making over $250,000 a year. that would be part of a big package that has big can cuts. we've already voted for over a trillion dollars in cuts. revenue is needed and job creation is essential to reduce the deficit. we believe if you want to reduce the deficit grow the economy. it's all together. that is attested by every bipartisan task force, commission, you name it that has come together. you can't get here from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you. i think that this meeting was very very fruitful. it simply remind us once again of exactly why we are here. but i don't know -- but i would add to what the leader has said the time for posturing is over which we are in the holiday season when people will love to turn to their families with some certainty and i think we ought to give them that. and it's very easy to do. the president has la
the president has been clear and we support him on holding firm to the 250 tax cuts, expiration of tax cuts for people making over $250,000 a year. that would be part of a big package that has big can cuts. we've already voted for over a trillion dollars in cuts. revenue is needed and job creation is essential to reduce the deficit. we believe if you want to reduce the deficit grow the economy. it's all together. that is attested by every bipartisan task force, commission, you name it that has...
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Dec 3, 2012
12/12
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and determined to raise taxes on the rich. it's one thing during the campaign he was specific and consistent on. it seems to me like they are even more upset about what they see his like of specificity on entitlements. let's play what we heard from his chief negotiator, tim geithner yesterday. >> we can't figure out what they need. they have to tell us. then we have to take a look at it and see if it makes sense for the american public. >> when will we see people putting something on the table or is that not going to happen until like the 30th, 31st of the month? >> well, what i would say is in the white house's initial offer they did offer $400 billion in medicare cuts. and that is something that i think the republicans should actually like as a starting point because clearly the white house knows that they are going to have to go up from there. and bob corker the senator from tennessee who was also on "meet the press" yesterday has proposed some legislation that instead cuts $641 million out of medicare. we'll see some scale
and determined to raise taxes on the rich. it's one thing during the campaign he was specific and consistent on. it seems to me like they are even more upset about what they see his like of specificity on entitlements. let's play what we heard from his chief negotiator, tim geithner yesterday. >> we can't figure out what they need. they have to tell us. then we have to take a look at it and see if it makes sense for the american public. >> when will we see people putting something...